Research

At B. Riley, our research process is an interactive one where we perform extensive due diligence on companies until the analyst develops the knowledge base and understanding of the company and the industry to make a recommendation. Our analysts continuously monitor industry developments and communicate with the management, competitors, suppliers and customers of the companies we follow, regularly communicating our findings through Research Updates and daily Morning Notes.

While we do not necessarily publish research on all of the companies we review, the knowledge base and understanding of many of our monitored companies parallels that of our covered companies. We actively cover over 100 companies and monitor an additional 100. Our analysts cover small to mid-cap companies that are under-followed or misunderstood by Wall Street. We believe that the pricing of small cap equities is frequently inefficient, and therefore provides the greatest potential rewards to diligent security analysis.

This Week's Research

  • 08/21/14 Update SMTC ($25.00, Neutral; $28.00 PT): Diversification Helps Stabilize Protection Business, $28.0 PT
  • 08/21/14 Update Industry Update: Internet - B. Riley Silicon Valley Tech Tour Preview
  • 08/21/14 Morning Note B. Riley & Co. Morning Notes: AEO, CTP, PLNR, SMTC, SPLS, TREC; Internet (AKAM, P, TRLA, YELP)
  • 08/21/14 Update PLNR ($4.31, Neutral; $4.30 PT): Downgrading to Neutral on Valuation; Shifting Valuation to FY ‘16 and Raising PT to $4.30
  • 08/21/14 Update AEO ($12.98, Buy; $15.50 PT): Brand, balance sheet, cash flow, omni-channel and expense reductions; still negative comp, but margins have potential…
  • 08/21/14 Update CTP ($15.88, Buy; $17.50 PT): Key Takeaways from Management Teach-In; Reaffirming Our Investment Thesis
  • 08/21/14 Update SPLS ($11.32, Neutral; $12.00 PT): 2Q Meets Expectations But Still Fails To Impress
  • 08/20/14 Update TREC ($12.74, Buy; $17.50 PT): Call With Management Reinforces Our Investment Thesis
  • 08/20/14 Update Industry Update: Semiconductor And Cap Equipment - B. Riley Silicon Valley Tech Tour Preview
  • 08/20/14 Update RDEN ($15.05, Neutral; $17.00 PT): Significant Reduction in Estimates; Price Target from $23 to $17
  • 08/20/14 Update Industry Update: IMMR & SIMO - Tech Tour Preview: Two Free Cash Flow Generators
  • 08/20/14 Update JDSU ($11.15, Neutral; $11.75 PT): Tech Tour Preview: Optical Industry a Mixed Bag
  • 08/20/14 Morning Note B. Riley & Co. Morning Notes: DWA, IMMR, JDSU, RDEN, SIMO; Tech Tour Previews, Semiconductors & Semi. Cap. Equipment (AMAT, BRCM, ISIL, INTC, KLAC,…
  • 08/19/14 Update DWA ($22.10, Neutral; $25.00 PT): Boosting 2H14 Estimates on Overseas Box Office Strength of Dragon 2; Remain Optimistic about Improving Trends……
  • 08/19/14 Update Industry Update: Household/Personal Care - Weekly Highlights (AVP, EL, IPAR, NWL, PG, PRGO, SPB)
  • 08/19/14 Update SPLS ($11.53, Neutral; $12.00 PT): Expect Few 2Q Surprises With Slight Sequential Improvement
  • 08/19/14 Update GME ($40.65, Buy; $64.00 PT): Raising 2Q Estimates In Advance Of Thursday’s Release
  • 08/19/14 Morning Note B. Riley & Co. Morning Notes: GME, GSM, ONNN, SPLS; Consumer Products Weekly (AVP, EL, IPAR, NWL, PG, PRGO)
  • 08/19/14 Update GSM ($19.97, Buy; $21.50 PT): CQ2 ’14 Earnings Preview – Lowering Estimates on Higher Than Expected Stock-Based Compensation Expense; Industry…
  • 08/19/14 Update ONNN ($8.92, Buy; $12.50 PT): Aptina Deal Close Triggers 3Q14 Guidance Uptick; Retain Buy, $12.50 PT
  • 08/18/14 Update CKEC ($34.20, Buy; $42.50 PT): Completes Digital Cinema Destinations Acquisition with 239 Screen Base/Pipeline; Boosts Both Estimates and Takeout…
  • 08/18/14 Update Industry Update: Media & Entertainment - Carmike Cinemas Entering Industry Consolidation Spotlight
  • 08/18/14 Update EL ($76.16, Neutral; $78.00 PT): Cutting FY15E EPS by $0.10 and Price Target from $81 to $78
  • 08/18/14 Update PG ($81.78, Neutral; $87.00 PT): Highlights of Management Meetings--Trimming F1Q15E EPS by $0.05
  • 08/18/14 Morning Note B. Riley & Co. Morning Notes: CKEC, EL, MRVL, PG, SMTC; Media & Entertainment (AMC, CKEC, CNK, NCMI, RGC), Retail Apparel & Footwear (AEO, BEBE, DSW,…
  • 08/18/14 Update SMTC ($23.47, Neutral; $27.00 PT): Protection A Mid-Year Estimate Risk; Retain Neutral And $27.0 PT
  • 08/18/14 Update MRVL ($13.33, Buy; $19.00 PT): Expecting Results/Outlook Slightly Better And In-Line; PT Is $19.0
  • 08/18/14 Update Industry Update: Retail Apparel & Footwear - Earnings Previews on AEO, BEBE, DSW, GES, PSUN, SSI, TLYS, WTSL and ZUMZ
  • 08/15/14 Update WYY ($1.48, Buy; $2.60 PT): Executes to Plan in Q2; Beats on Revs and EPS; Multiple Bookings and Wins Maintain Growth Trajectory
  • 08/15/14 Morning Note B. Riley & Co. Morning Notes: AMAT, PRGO, SHOO, WYY; Semi. Cap. Equipment
  • 08/15/14 Update Industry Update: Semiconductor Capital Equipment – Wrapping Up 2Q14 And Looking Ahead
  • 08/15/14 Update PRGO ($149.29, Buy; $180.00 PT): Expect a Return to Consistent Financial Performance—Raising Rating to BUY and Price Target from $157 to $180
  • 08/15/14 Update AMAT ($21.45, Neutral; $25.00 PT): Results And Outlook Mixed, But Better Than Feared; PT Remains $25.0
  • 08/14/14 Update OCLR ($1.91, Neutral; $2.00 PT): Off to a Slow Start in FY15; Reducing Estimates and PT from $2.50 to $2.00; Maintain Neutral
  • 08/14/14 Update CIDM ($2.34, Buy; $3.00 PT): Transition Headwinds Drive Q1 Miss; Focus on Progress Made Towards Impressive Content Monetization Opportunity and Value…
  • 08/14/14 Update FN ($18.40, Neutral; $21.00 PT): Earnings Preview: Downgrading from Buy to Neutral Based on Weak Data Points from Major Customers; Reducing PT from…
  • 08/14/14 Update WYY ($1.48, Buy; $2.60 PT): Earnings Preview: WYY to Report Q2 ’14 (Jun); Racking up Award Wins but not Expecting Meaningful Profitability until…
  • 08/14/14 Morning Note B. Riley & Co. Morning Notes: CIDM, FN, OCLR, PFSW, WYY
  • 08/14/14 Update PFSW ($8.48, Buy; $12.00 PT): Corner Turned; Upgrading To Buy As Growth Kicks In